14 Jun '18, 7pm

SQN Releases Suniva From Bankruptcy, Plans to Reboot Operations

SQN Releases Suniva From Bankruptcy, Plans to Reboot Operations

SQN Capital Management issued a statement Thursday noting that it has released solar module manufacturer Suniva from bankruptcy and plans to "restart operations as soon as possible." Suniva filed for Chapter 11 bankruptcy protection last April. Shortly after, the Georgia-based solar manufacturer filed a Section 201 trade case , seeking relief from "destructive" foreign trade practices. At the time, Suniva was majority Chinese-owned. Financial firm SQN backed Suniva through the trade petition last year, which resulted in the Trump administration imposing a 30 percent step-down tariff on virtually all imported solar products. SolarWorld Americas, formerly the U.S. arm of a struggling German-based company , also joined the trade petition. Earlier this year, SunPower Corp. announced it will acquire SolarWorld Americas , in an attempt to free the company from painful tariffs. W...

Full article: https://www.greentechmedia.com/articles/read/sqn-suniva-o...

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